USECHAIN: Securing blockchain using mirror identity

royalt123 (42)in #blockchain • 6 years ago

OVERVIEW

A lot of people got to know blockchain technology through bitcoin that was introduced in 2008. Although bitcoin wasn't the invention of the blockchain, it made the decentralized system of operation popular and other exchanges started using this method of operation. Since the conception of blockchain technology, so many things and businesses have improved especially since companies started adapting the use of cryptocurrencies for trading.

As blockchain advances, the needs of the users also increases making the older blockchain system inefficient, slow in performance, security lackings, high consumption of power and poor scalability. Although many other blockchain systems have tried some solutions to some of these problems with very few of them proven to be successful. With even the rapid adaption of blockchain technology with people and businesses generally, it is not yet widely accepted like the internet due to lots of reasons which are mainly dependent on security level that is low, lack of commercial connection to the market and investors.

However, all these issues can be discouraging for beginners who are interested in using blockchain technology and even investors will be pushed away when there's a lot of faults wrong with the system. After noticing all these issues on the ground, the usechain foundation decided to propose a new innovative idea to counter these issues and hence gives rise to the USECHAIN foundation which has the first ever mirror identity blockchain.

ABOUT USECHAIN

Usechain is the first-ever platform to use a mirror identity which is the form of digital recognition that can note the person using the system and catch possible hackers while increasing performance and scalability of the platform. Massive protection of data is also guaranteed by Usechain, this is backed by the Randomized Proof of Work (RPOW) feature. It also ensures the efficient performance of the Usechain system and also reduces the cost of mining compared to other cryptocurrencies.

HOW USECHAIN WORKS

Usechain works using the identity blockchain which will make the blockchain platform more reliable and trustworthy. This mirror identity process is joined with a very high level of structural design technology which will remove the delays experienced by blockchain industry and therefore balance the relationship between security, size, and decentralization and most important safeguard the information in the blockchain since it can detect users and therefore prevent hacking.

Because Usechain is very knowledgeable about KYC (know your customer) and knows how important it is to the financial industry the creation of a feature known as identity marking emerged I.e every business, every person, and every asset on blockchain will be mapped. And this mapping allows for ease of transfer of smart contracts thereby building trust and this is unlike the other blockchain systems e.g cointal that boasts of anonymity which is credible until it is turned against the system and used to perform hacks.

USECHAIN UNIQUE ALGORITHMS

Usechain in achieving its set goals integrated many algorithms. Algorithms that are very much aligned with the Usechain’s developed multi-level authentication, user protection, and encryption systems which would bring about the mitigation of the current problems faced by Blockchain in its continuous development.
These algorithms integrated by Usechain includes;

Zero Knowledge Proof.

Identity Virtual Machine.

Identity Network Sharding.

Identity Transaction Sharding.

Advanced Smart Contract.

Randomized Proof of Work.

TOKEN DETAILS

The token created by Usechain which is known as UST is created on the Ethereum blockchain and mainly for people in the platform to benefit from whenever they help the system to move forward and to reward supporters of the platform and generally to improve the economy of the platform. The usechain platform proposes to provide technical efficiency by using a friendly interface for existing technology that has low cost and low risk which is gotten from the continuous operation and improvement of smart operations with the use of complex and bendable application protocol.

TOKEN STATS
Ticker: UST
Token Type: ERC20
Platform: Ethereum (ETH)
Total Token Supply: 20,000,000,000

TOKEN DISTRIBUTION

USE OF FUNDS FROM TOKEN SALE

TEAM

ADVISORS

In conclusion, the usechain platform whose features are built on solid blockchain technology and real identity can give massive benefits to the global economy as it generally aces blockchain technology in terms of security which gives investors more confidence to invest and can be applied to a wide range of incidences connected to identity.